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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Don Lloyd who wrote (15586)	2/24/2002 6:38:38 PM
From: Maurice Winn	Respond to of 74559

<This would clearly include stocks and bonds, the basis of the wealth effect, ..... All of these alternatives each have their own discounts that affect their money-character, but they all reduce the purchasing power of money.> The Q is already being formed. It's in zygotic stage at present, but the trend is clear. Uncle Al's $ is at its zenith at the moment [actually, still gaining ground]. But the use of stocks as money is going to increase as cyberspace brings management costs to zero. It'll be a long competition, but I'm sure share certificates [in pixelated divisible form] as money, which actually earns a return on ownership, will gain ground against holding $, which is subject to the vicissitudes of USA politics. The other 6 billion of us won't want to remain beholden to GeorgeW's band of merry men. We'd like to spread our risk. The world's stockmarkets are bigger than the US$. I'll take my chances with the global economy rather than the USA political system. But Uncle Al has done a great job of helping create the world's pre-eminent currency. He's not giving up the money business without a fight. The competition will have to be good to displace him and the USA political system. Mqurice